The amount of kerosene used by a typical household in a week (Q, in litres) is found to have a strong correlation with the price of kerosene (P, in S). For 6 observations, the following data was collected: Q P 11.4 4.00 14 3.50 16 3.00 18 2.50 20 2.00 22 1.50 (d) Calculate the price elasticity of demand for kerosene at a price of $3.75 (e) Using a further calculation, discuss how well the regression equation fits the data. (f) Discuss whether the relationship between the price and quantity could be due to the income effect, the substitution effect, or both.

The amount of kerosene used by a typical household in a week (Q, in litres) is found to have a strong correlation with the price of kerosene (P, in S). For 6 observations, the following data was collected: Q P 11.4 4.00 14 3.50 16 3.00 18 2.50 20 2.00 22 1.50 (d) Calculate the price elasticity of demand for kerosene at a price of $3.75 (e) Using a further calculation, discuss how well the regression equation fits the data. (f) Discuss whether the relationship between the price and quantity could be due to the income effect, the substitution effect, or both.

Name: Question 2.The amount of kerosene used by a typical household in a we
Uploaded: 2024-03-20T07:06:16.000Z
Channel: Bartleby
Description: Question 2.The amount of kerosene used by a typical household in a week (Q, in litres) is found to have a strongcorrelation with the price of kerosene (P, in $). For 6 observations, the following data was collected:Q P11.44.00143.50163.00182.50202.0

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

It is thought that prehistoric Indians did not take their best tools, pottery, and household items when they visited higher elevations for their summer camps. It is hypothesized that archaeological sites tend to lose their cultural identity and specific cultural affiliation as the elevation of the site increases. Let x be the elevation (in thousands of feet) for an archaeological site in the southwestern United States. Let y be the percentage of unidentified artifacts (no specific cultural affiliation) at a given elevation. Suppose that the following data were obtained for a collection of archaeological sites in New Mexico: x 5.00 6.00 6.50 7.50 8.00 y 25 55 64 66 75 Find a for the equation of the least-squares line y=a+bx given that x=6.6 and y=57. Group of answer choices –57.039 –41.421 57.039 –56.621 –56.679
Radon is a gas emitted from the ground that can collect in houses in buildings. At certain levels it can cause lung cancer. Radon concentrations are measured in picocuries per liter (pCi/L). A radon level of 4 pCi/L is considered “acceptable” Radon levels in a house vary from week to week. In one house, a sample of 6 weeks had the following readings for radon level (in pCi/L): 1.9 2.8 3.9 3.9 4.2 5.7 Find the variance and standard deviation (definitional formula). Show your work using a table.
It is thought that prehistoric Indians did not take their best tools, pottery, and household items when they visited higher elevations for their summer camps. It is hypothesized that archaeological sites tend to lose their cultural identity and specific cultural affiliation as the elevation of the site increases. Let x be the elevation (in thousands of feet) for an archaeological site in the southwestern United States. Let y be the percentage of unidentified artifacts (no specific cultural affiliation) at a given elevation. Suppose that the following data were obtained for a collection of archaeological sites in New Mexico:x5.756.257.258.259.25y2218786795What percentage of the variation in y cannot be explained by the corresponding variation in x and the least-squares line?
The following Minitab display gives information regarding the relationship between the body weight of a child (in kilograms) and the metabolic rate of the child (in 100 kcal/ 24 hr). Predictor Coef SE Coef T P Constant 0.8678 0.4148 2.06 0.84 Weight 0.40376 0.02978 13.52 0.000 S = 0.517508 R-Sq = 94.6% (a) Write out the least-squares equation. = + x (b) For each 1 kilogram increase in weight, how much does the metabolic rate of a child increase? (Use 5 decimal places.)(c) What is the value of the correlation coefficient r? (Use 3 decimal places.) 4.
It is thought that prehistoric Indians did not take their best tools, pottery, and household items when they visited higher elevations for their summer camps. It is hypothesized that archaeological sites tend to lose their cultural identity and specific cultural affiliation as the elevation of the site increases. Let x be the elevation (in thousands of feet) for an archaeological site in the southwestern United States. Let y be the percentage of unidentified artifacts (no specific cultural affiliation) at a given elevation. Suppose that the following data were obtained for a collection of archaeological sites in New Mexico: x 5.00 5.25 5.75 6.75 7.00 y 8 15 13 49 71 Find the equation of the least squares line . Round a and b to three decimal places. Find the correlation coefficient r for the elevation and percentage of unidentified artifacts (no specific cultural affiliation) at a given elevation
A regression analysis was performed to predict weight (y, in kg) using height (x, in cm) among 150 children. The coefficient of determination was . Which of the following is a valid interpretation? a. For each 1-cm increase in height, weight tends to increase by about 0.32 kg b. There is no association between weight and height c. Height accounts for about 32% of the total variability in weight d. The correlation between weight and height is about 0.32
Which of the following is not one of the uses of a scatter plot and regression line a. to estimate the average y at a specific value of x. b. All three are uses of the scatterplot and regression line c. to determine if a change in x causes a change in y d. to predict y at a specific value of x.
It is thought that prehistoric Indians did not take their best tools, pottery, and household items when they visited higher elevations for their summer camps. It is hypothesized that archaeological sites tend to lose their cultural identity and specific cultural affiliation as the elevation of the site increases. Let x be the elevation (in thousands of feet) for an archaeological site in the southwestern United States. Let y be the percentage of unidentified artifacts (no specific cultural affiliation) at a given elevation. Suppose that the following data were obtained for a collection of archaeological sites in New Mexico: x 5.75 6.25 6.75 7.75 8.25 y 31 26 38 74 72 Find the value of the coefficient of determination r2. Group of answer choices
The arm span and foot length were both measured (in centimeters) for each of 20 students in a biology class. The computer output displays the regression analysis. Predictor Coef SE Coef t-ratio Constant Arm span -7.611 2.567 2.965 0.046 0.186 0.035 5.377 0.000 S = 1.61 R-Sq = 63.0% R-Sq (Adj) = 64.9% Which of the following is the best interpretation of the standard deviation of the residuals? The typical arm span is 161 centimeters. The typical foot length is 16.1 centimeters. The typical distance between the observed and predicted arm spans is 1.61 centimeters. The typical distance between the observed and predicted foot lengths is 1.61 centimeters. Op
in simple linear regression, given the following table : n = 25 E(y,-7) = 1407 %3D SSR = 472 Calculate the standard error of the estimate (s): Select one: Oa. 7.82 Ob. 6.38 Oc. 58.62 d. 34.63 Next
The following Minitab display gives information regarding the relationship between the body weight of a child (in kilograms) and the metabolic rate of the child (in 100 kcal/ 24 hr). Predictor Сoef SE Coef T Constant 0.8462 0.4148 2.06 0.84 Weight 0.39917 0.02978 13.52 0.000 S = 0.517508 R-Sq = 94.4% (a) Write out the least-squares equation. + (b) For each 1 kilogram increase in weight, how much does the metabolic rate of a child increase? (Use 5 decimal places.) (c) What is the value of the correlation coefficient r? (Use 3 decimal places.)
It is thought that prehistoric Indians did not take their best tools, pottery, and household items when they visited higher elevations for their summer camps. It is hypothesized that archaeological sites tend to lose their cultural identity and specific cultural affiliation as the elevation of the site increases. Let x be the elevation (in thousands of feet) for an archaeological site in the southwestern United States. Let y be the percentage of unidentified artifacts (no specific cultural affiliation) at a given elevation. Suppose that the following data were obtained for a collection of archaeological sites in New Mexico: x 5.75 6.75 7.75 8.50 9.25 y 27 16 46 62 95 What percentage of the variation in y cannot be explained by the corresponding variation in x and the least-squares line? Round your answer to the nearest tenth of a percent. 3.4% 18.4% 81.6% 9.7%